Budget 2021's commitment to extend support measures while the coronavirus is still spreading widely will contribute to a second year of sizable fiscal deficits. Nevertheless, we do not expect the associated fiscal costs to offset Canada's credit strengths. We are affirming our 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on Canada. The outlook is stable. On April 26, 2021, S&P Global Ratings affirmed its ratings, including its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings, on Canada. At the same time, S&P Global Ratings affirmed its 'AAA' transfer and convertibility assessment on the country. The stable outlook reflects our view that Canada's high wealth, economic diversification, and ample fiscal and monetary buffers are helping the country weather the impact
